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Below is an Interesting article I found, which says that.....Do not
/ O. _/ m* u$ C- O j; iexpect much from Crude Oil producers and future is not with the 1 C0 `" _% s# H: s. Z* c1 n; ]
companies producing Jet fuels but Biofuels. Also no wonder if some of 8 D5 f. {' r+ k6 @# \: N, m! _
these oil producer will go bankrupt or out of the business even if ( M* Q' t$ z' Q$ w. c# H( x& A+ ^4 w! }
crude prices improves. This implies also to good names such as Shell, k6 p0 w+ \# \* Q5 |
EXXON, BG, BP, Cheveron ....xyz.. oils
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Recently OPEC reduced crude oil production twice over just a few
1 i% |" T5 l$ I7 _! l/ y1 P. Bmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
; p! f1 U$ l' S2 s8 Y0 lA year ago these things would have spiked the price of crude oil by at
* k$ |8 K) s7 tleast $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face
1 y5 d! D0 C! M- q! K H% G1 }of so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and ' w3 h! q+ [8 ]& p; E) _
in the ocean near Brazil. Each of these oil fields has more oil than 4 f5 ?7 ]# j1 t$ w6 ]
Arabia.
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2. New natural gas has been found in Pennsylvania and West Virginia.
" Q0 E) p. k7 \- AThis is the largest find in North America.
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% a8 z1 P, O E6 }* r. q3. New methods of injecting CO2 and surfactants into oil wells is
l" a' \' j2 G, [$ E1 Sbeing used to double their output.
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4. Production of bio-fuels is beginning to reach critical mass. Bio
; u+ V8 z4 s" W% q& }6 [ ofuel is being produced from many plants and algae. The production
% d# ~( f! Q+ [- Ypotential per acre in some cases is astounding. Many countries are / q. J" j& d( W* Q) l9 r
racing to produce bio fuels. ' ^/ Z2 P4 p% @" j, v/ F6 b: d) S' v
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7 H& {" n. Q4 b) m0 u$ J5. Virtually every restaurant in the US and all food processing plants ) m& D C; y8 b$ _
are now selling their used oil to bio-diesel producers. Every pork,
6 C5 |/ ]# v0 U7 @' kcattle, turkey and chicken processing plant will soon sell their fat
- J% Y- y o$ |to bio-diesel producers. One pork processing plant in Oklahoma is
+ D+ }; W0 I: p- k; E# Lproducing 30,000 gallons of bio-diesel per day from pork fat. 4 _. v6 W# C, b) ?( m6 f0 }
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9 _8 k$ H; ?2 j! G: _. q6. There are 99 nuclear reactors in various stages of planning and
/ T- ~4 o0 a) \, N4 ~construction around the world at this time. Several hundred more are
" `3 B$ t7 e% Z4 g4 x |1 Wexpected to be built in the future. Much of the energy they produce
# n( q+ P1 a, n7 |$ \9 G4 i! N! O Iwill replace oil. ' l% F d& s/ p: O
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7. Every company in any form of transportaion business is replacing ' C+ l! X1 A3 y0 V6 _+ c' {
older equipment such as trucks, airplanes, train engines, ships, etc. 9 k6 |: s; M9 n6 h0 @2 U
with new more fuel efficient equipment. Airlines and railway companies , N0 c4 D* t7 P+ P# b
are experiencing 20% to 25% better fuel econony with the new
" A8 z; s! I7 G; b, i$ Eequipment.
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8 @) W' ~5 M! A% V, Q. A, iAirlines are flying airplanes with bio-fuel. They are finding the bio-
" @# ?$ G2 U3 O& F& ^) |fuel is cleaner and performs better than jet fuel. 1 [: |; j, L! P2 c, {9 [
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k! Y" U9 n& \: L9 H% N8. Cities and counties throughout the US are selling the rights to
4 S2 B/ F/ H& g9 w5 ]$ {2 Q4 D% wcapture methane gas from landfills. This is a huge source of gas
% O7 N2 o7 |0 L1 Z' y) Uavailable at very little cost or risk. The gas is displacing crude " h4 y6 d$ F+ _" L) S
oil.
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7 D- P; y2 F5 O) h$ H9. Coal is being transformed into a clean burning liquid fuel. The CO2
5 `) {4 @; ?' E- Rproduced as a byproduct is sold to oil companies for injection into # d8 T# O4 ]/ J4 ~+ ?' D2 G
oil wells.
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10. Solar, wind and ocean energy is displacing oil as an energy : A2 N8 [" Z( \( Z+ K5 ^3 x
source. Three new wind turbines are being erected every day in the US. 6 S- _4 L2 g9 u7 ^) B0 c
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Each of the above by itself will not make a large difference in the
$ D3 u6 I+ C6 Q5 T2 Q9 K8 t2 wprice of crude oil but the sum of all of them together is world # w3 Q- _0 t6 p/ G
changing. The important thing is that OPEC no longer has the ability
$ ?5 u7 ?$ T8 j3 nto control oil prices. 4 W, P/ Y; [6 y9 F1 t7 h- q
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With the above scenario, I still believe that there are under
8 I( \$ y" W# V* [0 mperformed OIL companies and probably they are yet to get the justified
i1 j0 X' `+ b) Zvalue .....
. y( P& ^- {9 k4 v8 }IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... : T1 g2 X8 t2 t4 v. w/ w( r# t1 ^6 M. x8 ?
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, E# O9 E1 o: y$ g4 LThe above articles are from WSJ .............PUBLISHED ON 9TH JAN ! c! h8 P) E' u3 z( j
2009 ... FYI-Only |
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